I don't see how if you cut the U-lock, you can't then just remove the entire bike easily.
Other than directly attacking the U-Lock, it looks like you could cut/remove the seatpost, remove the rear wheel and keep the front wheel & frame.
Furthermore, the front shields are virtually guaranteed to be inadequate for some users. To fit close enough to the fork, you have to design around a particular bike. Anything that fits a front suspension 2+" MTB fork will be far to wide to protect a narrow fork road bike, and vice versa.
Seems silly to me. It's a waste of space. Only allowing a handful of bikes to be stored where before you could park many more. Not only that, but you only need one lock to properly lock a bike. You just run a cable through the front wheel and into the lock. Even if you don't use a cable you still only need 2 locks. Then you have to ask how weatherproof is it? A simple bike rack can last decades. This I would be surprised if it lasted more than a few years.
1) loosen seat clamp (esp. easy if it's QR)
2) slightly lift bike while the seat post slides down into frame an inch or so
3) undo rear wheel QR and drop rear wheel out of dropouts/chain so you can pull it back and lift it up
4) lift U-lock and bar releasing the seat of the bike
5) make off with all of the bike except for the rear wheel (but the loops holding the U-lock to the bar look rather flimsy - so cut these if you also want to take the wheel/U-lock with you and cut the lock later at your convenience)
In areas with strong concerns about theft I'd be much more assured by the type of lockers used in our local transit stations. Each rectangular locker holds two bikes in triangular spaces. The locker doors have small holes so you can see if a locker is occupied but it's very hard to see details that would let you determine the value of the bike inside. They keep the bike both secure and sheltered and also let you secure some additional personal belongings as well as things attached to the bike (lights, cyclometer, bags, etc.). Credit card activated, they charge 3 cents/hour for parking.
Both this design and the lockers have issues with some non-traditional bike designs, but the lockers appear to be more accommodating than this rack design. The lockers mainly have issues with bikes that are too long to fit (tandems, some recumbents, some cargo bikes, etc.), or too tall (ordinaries, tall bikes, etc.)
Bikes: 1978 Motobecane Super Mirage, 1979 Centurion Pro Tour, 1983 Motobecane Grand Touring, 1985 Centurion Ironman, 1988 Centurion Ironman Master, 1997 Gary Fisher Hoo Koo E Koo, 2014 Surly LHT
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Set that up, loaded with bikes, in Manhattan for a week. Come back a week later it will look like a twisted piece of modern art with no bikes left. That's if the metal scrappers don't take the rack too!
I called a store manager out once when I could not lock my bike at the store with woefully inadequate racks. I was tired and cranky and needed stuff for dinner, so he got an earful. Showed him the problem, told him I will not be returning until it was fixed. I never did go back anyway. Easier to shop a bit further away with racks I knew worked.